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us finance 7 38m ago 4 min read

SpaceX's 31% Share Decline Since June 16 Has Dropped Musk Back Below $1 Trillion in Net Worth

Since SpaceX went public on June 12, the stock has retreated 31% from its June 16 peak of $225.64, pulling Musk's estimated net worth to roughly $957–$962 billion as of Tuesday's close. A separate Forbes accounting adjustment, removing $116 billion in newly restricted Tesla shares from its calculation, accelerated the paper drop. Musk remains the world's richest person by a margin that swallows two Jeff Bezos fortunes.

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us finance 7 1h ago 4 min read

Wendy's Stock Surged Up to 42% on Wednesday as Reddit Traders Targeted Its Heavy Short Interest

WallStreetBets traders piled into Wendy's shares on June 24, pushing the stock as high as $8.89 before it settled around 30% gains, with trading briefly halted by the NYSE for volatility. The nominal catalyst was a new CFO hire, but the real driver was a coordinated retail push against a stock with short interest running between 23% and 34% of float, depending on the source. The underlying business is in genuinely bad shape, and anyone buying into a meme rally should know exactly what they're buying.

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us finance 7 4h ago 4 min read

Markets Stabilize After Tuesday's Chip Selloff as Micron Reports Earnings After the Bell

Since Tuesday's semiconductor rout knocked the VanEck Semiconductor ETF down 7% and sent Micron and Sandisk each falling 13%, U.S. markets have partially recovered Wednesday morning. All eyes are now on Micron's third-quarter earnings, due after Wednesday's close, which analysts polled by FactSet expect to show $20.83 per share on $35.75 billion in revenue.

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us finance 7 5h ago 4 min read

SK Hynix Files to Raise $29 Billion on Nasdaq in the Largest ADR Offering Ever Attempted

South Korea's SK Hynix disclosed Wednesday it plans to list American depositary receipts on Nasdaq as soon as July 10, targeting up to 45.45 trillion won ($29.43 billion). If completed at that size, it would surpass the $21.8 billion Alibaba raised in its 2014 New York debut as the biggest ADR deal on record. Every dollar is earmarked for new chip capacity, not shareholder returns.

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us defense 7 2d ago 1 min read

Passing CMMC Is a Snapshot. Staying Compliant Is the Hard Part.

The Pentagon's CMMC program went live November 10, 2025, and Phase 2 mandatory third-party certifications begin November 10, 2026. Thousands of defense contractors who cleared their initial assessment are now exposed to a quieter risk: the gap between passing once and proving continuous compliance every day after. That gap has legal teeth.

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10 sources
us finance 7 8h ago 4 min read

DOJ Cleared the Paramount-Warner Merger Without Conditions. Now the EU Clock Is Ticking.

The Department of Justice approved Paramount Skydance's $110.9 billion acquisition of Warner Bros. Discovery with zero asset divestitures required, dismantling years of assumed regulatory resistance to legacy media consolidation. The deal still faces an EU deadline of July 7 and a UK review, and Paramount is weighing whether to offer up children's TV assets to satisfy Brussels. About 100 protesters rallied in Los Angeles last month, and California and New York are preparing lawsuits to block the transaction.

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in finance 7 8h ago 4 min read

India's Central Bank Governor Calls Rate Hike Talk Premature, Bond Yields Fall to Three-Month Lows

RBI Governor Sanjay Malhotra said Wednesday that discussing interest rate hikes is premature, pointing to the MPC's neutral stance as proof the bank isn't preparing to tighten. Indian bond yields dropped to their lowest since March as markets absorbed the signal, though monsoon deficits and fragile geopolitics keep the outlook genuinely uncertain.

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4 sources
us finance 7 10h ago 3 min read

Alphabet Joins the Dow Jones Industrial Average, Replacing Verizon

S&P Global announced Tuesday that Alphabet's Class A shares will replace Verizon in the 30-stock Dow Jones Industrial Average, effective before Monday's open. The move loads the Dow with five of the largest technology companies in the world. Alphabet enters the index with a complicated recent track record: up more than 10% in 2026, but fresh off its worst single trading day in over a year.

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us finance 5 11h ago 3 min read

Cboe Launches Binary Options on S&P 500 Index as Prediction Market Race Accelerates

Cboe has formally launched its first prediction market product: binary option contracts on the Mini-S&P 500 Index, available immediately on Interactive Brokers with Charles Schwab distribution coming in the months ahead. The move arrives the same week Meta confirmed its Arena prediction platform, compressing months of industry buildup into a single chaotic week.

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us finance 6 14h ago 4 min read

CFTC Sues Kentucky Over Prediction Market Crackdown, Making It the First Red State to Face Federal Action

The federal Commodity Futures Trading Commission has sued Kentucky in federal court, the ninth state it has targeted since April 2 and the first with a Republican attorney general. The fight is over whether sports-linked event contracts are federal swaps or illegal state gambling. A Supreme Court ruling is widely expected as soon as next year, and the outcome will determine whether this $24-billion-a-month industry lives or dies state by state.

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us finance 7 15h ago 4 min read

SpaceX's $25 Billion Bond Sale Cuts Annual Interest Costs While Folding In Musk's Debt-Heavy Acquisitions

Since pricing its $25 billion bond offering earlier this week, SpaceX has locked in lower interest rates than the debt it's retiring, consolidating obligations from X and xAI into a single investment-grade credit. The deal restructures roughly $17.5 billion in costly prior debt into $25 billion of cheaper bonds, reducing annual interest expense from an estimated $1.8 billion to $1.5 billion. Whether that math holds depends entirely on whether Starlink revenue can carry the weight of a conglomerate that, as of its IPO prospectus, has never turned an overall profit.

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us finance 7 16h ago 3 min read

Cerebras Posts 92% Revenue Growth in First Earnings Report, but Shares Fall 10% After-Hours on Margin Compression Forecast

Cerebras delivered its first earnings report since going public in May 2026, showing strong top-line growth but warning that gross margins will shrink sharply in Q2. The stock, already down 28% from its IPO opening price, dropped another 10% in after-hours trading Tuesday on that margin guidance.

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us finance 7 16h ago 4 min read

MSCI Keeps South Korea in Emerging Markets, Cites Currency and Access Barriers That Reforms Have Not Fixed

MSCI's most recent annual review, completed Tuesday, kept South Korea out of its Developed Markets watchlist for another year, citing unresolved limits on Korean won convertibility, investor ID requirements, and exchange data restrictions. South Korea's Finance Ministry says it will press ahead with reforms on its own timeline. Indonesia fared worse, with MSCI extending its review until November under threat of a downgrade to frontier-market status.

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5 sources
us finance 7 21h ago 3 min read

Treasury Sells $69 Billion in 2-Year Notes at Highest Yield Since January 2025

The U.S. Treasury auctioned $69 billion in 2-year notes Tuesday at a yield of 4.189%, the highest since January 2025. Demand was average on the surface, but foreign participation hit its lowest level since December 2024. Yields across the curve still fell near session lows after the auction closed, suggesting the result moved little in the broader market.

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us finance 7 22h ago 4 min read

SpaceX Prices $25 Billion Bond Offering After Nearly $90 Billion in Demand Floods Its Debut Debt Sale

Since SpaceX's IPO on June 12, the company has moved aggressively to layer on debt financing. Its inaugural bond offering attracted roughly $89 billion in orders, forcing the raise up from a $20 billion target to $25 billion, and SpaceX disclosed $100.8 billion in cash as of June 19.

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us finance 7 23h ago 4 min read

QQQ Gaps Down More Than 2% Near All-Time Highs, a Setup That Has Preceded Further Losses Every Prior Time

The Invesco QQQ Trust fell more than 2.8% at Tuesday's open, driven by a global selloff in AI and semiconductor stocks. BTIG strategist Jonathan Krinsky notes this is only the fifth time in QQQ's history that a gap-down of this size occurred within 2% of a 52-week high with the VIX below 20. All four previous instances saw QQQ trade meaningfully lower over the following month.

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us finance 7 1d ago 4 min read

One Korean News Article Triggered a Global Chip Rout. Here Is Exactly What It Said.

A single report from South Korean outlet Chosun Biz — citing an unnamed official saying SK Hynix is slowing HBM4 production and pivoting back to commodity DRAM — cascaded into a 10% crash in Seoul, a mandatory trading halt, and a broad tech selloff that reached U.S. markets by Tuesday morning. Since this publication covered the chip selloff and Nvidia's compute price decline earlier today, the new development is the specific sourcing of what triggered it and what BTIG's technical analysis says comes next.

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6 sources
us finance 7 1d ago 4 min read

Primoris Services Cuts 2026 Earnings Forecast in Half, COO Departs, Shares Drop Over 37%

Primoris Services slashed its full-year adjusted EPS outlook from roughly $4.90 at the midpoint to $2.33, blaming collapsing renewables revenue. KeyBanc downgraded the stock to Sector Weight after calling this the company's fourth negative update in a row. The COO is gone, credibility is shot, and analysts want answers before touching the shares.

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us finance 7 1d ago 3 min read

Costco Shares Test $950 Support as Traders Eye Sector Rotation Out of Tech

Costco stock has pulled back to around $951, testing a technical support level that previously acted as resistance. One trader is betting on a bounce using a capped options strategy. Whether institutional money actually rotates into consumer staples depends on how fast tech unwinds — and that's not settled.

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us finance 8 1d ago 4 min read

Global Chip Selloff Deepens Tuesday as Leveraged ETFs Amplify South Korea's Collapse Into U.S. Markets

Since South Korea's Kospi triggered a circuit breaker in overnight trading, a semiconductor-led selloff has spread into U.S. markets Tuesday morning, with the Nasdaq down 1.7% and memory chip stocks absorbing double-digit losses. Leveraged ETFs — particularly a single SK Hynix 2x product in Korea and the Direxion 3x semiconductor ETF in the U.S. — are mechanically amplifying the carnage in both directions. Micron reports Wednesday after the close, and how it reads AI demand will either stabilize the sector or extend the rout.

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in finance 7 1d ago 3 min read

Fairfax India Bought $1 Billion in Indian Government Bonds. The Market Thinks It Knows Why.

Fairfax India Holding Corp purchased roughly $1 billion in Indian government bonds last Friday, a sharp departure from its usual near-zero presence in India's debt market. One source close to the company told Reuters the move was aimed at bringing capital into India ahead of a potential bid for a 60.7% stake in IDBI Bank. No bid has been filed and no deal is confirmed.

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